Japan to test Ripple’s ODL service for money transfers to the Philippines
Japan’s first On-Demand Liquidity service implementation helps Ripple drive the adoption of crypto-enabled services. Showcasing the use of cryptocurrency in monetary transfers, Ripple has become a known partner for traditional institutions that wish to revamp their cross-border remittance services. Taking this vision further, Ripple announced a new partnership with Japan’s SBI Remit to transform remittance payments from Japan to the Philippines.Ripple’s latest partnership will see the involvement of mobile payments service Coins.ph and digital asset exchange platform SBI VC Trade to....
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A number of Japanese banks are reportedly set to test domestic fund transfers using digital currencies over a blockchain as a low-cost alternative to traditional money transfers. According to a Thursday report by Nikkei, Japan’s most prominent financial publication, a handful of major Japanese banks will perform tests to determine if a digital currency powered blockchain platform could prove a viable alternative for the current national payments clearing platform ‘Zengin’. Operated by the Japanese Bankers Association, the Zengin System powers domestic money transfers in Japan. The....
Token Hub Asia in the Philippines recently celebrated its one-year anniversary as a remittance service for an altcoin called Eternal Coin (XEC) serving the Philippines, Japan, Hong Kong and Korea. Eternal Coin is owned by a Japanese company called Atom Solutions. The service charges users a flat 2 Philippine peso (approx $ 0.04 USD) remittance fee. It is possible to send the funds directly to a recipient’s mobile phone. Remittance Via Mobile Phone. “Through the use of your own mobile device, Eternal coin is the world’s first digital currency in which the transmission can be performed with....
The Philippines has one of Asia’s most sophisticated and complete Bitcoin platforms which enables users to settle any money-related bills, payments, and transfers with Bitcoin. Bitcoin platforms, including Coins.ph, BuyBitcoin.ph and Rebit.ph, are extremely popular in the Philippines because of their simple user interfaces and cost-effective services. CoinTelegraph has used, tested, and evaluated each platform and here is a detailed review of the top three Bitcoin platforms in the country. Users rank Coins.ph as one of the best and well-rounded Bitcoin applications globally, due to its....
Payment’s solution company Ripple revealed the launch of a new corridor between Japan and the Philippines. This is the company’s first On-Demand Liquidity (ODL), a payment solution leveraging token XRP, in Japan. The corridor has been launched in collaboration with SBI Remit, one of the country’s most prominent money transfer provided, according to Ripple, and the leading mobile wallet for the Philippines, Coins.ph. The payment solution will connect the wallet with the digital exchange platform SBI VC Trade on RippleNet. Thus, people from these countries can use this....
“Global remittances to developing countries, including the Philippines, are estimated to be $516 billion by 2016. Remittances are typically sent from migrant workers sending money back home. Our vision is to allow these individuals to send money back home cheaper.” said Palarin Co-founder Brian Gamido. Palarin, a Filipino startup, launched its user-friendly bitcoin selling and buying service this week. The company hopes to differentiate itself from its large competition by making the service very easy to use and pleasant. Their Philippines is the second fastest growing economy in Asia,....